IWATA, Japan--(BUSINESS WIRE)--

Yamaha Motor Co., Ltd. (Tokyo:7272) announces its consolidated business results for the first half of fiscal 2023.

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Yamaha Motor Headquarters, Iwata, Shizuoka, Japan (Photo: Business Wire)

Net sales for the consolidated accounting period for the first six months of the fiscal year ending December 31, 2023 were 1,226.4 billion yen (an increase of 157.5 billion yen or 14.7% compared with the same period of the previous fiscal year) and operating income was 142.8 billion yen (an increase of 40.3 billion yen or 39.4%). Ordinary income was 144.8 billion yen (an increase of 29.4 billion yen or 25.4%) and net income attributable to owners of parent was 105.3 billion yen (an increase of 22.3 billion yen or 26.9%). This is also the first time net income has exceeded 100 billion yen in a second quarter period.

For the first half-year consolidated accounting period, the U.S. dollar traded at 135 yen (a depreciation of 12 yen from the same period of the previous fiscal year) and the euro at 146 yen (a depreciation of 12 yen).

Market conditions during the second quarter were affected by factors that include subsiding outdoor recreation demand and a protracted economic recovery in China, but demand for large outboard motors and motorcycles remained strong. Compared to last year when the Company faced supply chain disruptions, marked improvements were made with product supply volumes and this resulted in higher sales. For operating income, higher unit sales as well as more pronounced effects from passing on costs to offset soaring prices for raw materials generated higher profits. Together with the positives of a weaker yen, led the Company to post record highs for net sales and incomes for a second quarter consolidated accounting period.

Forecast of Consolidated Business Results (Compared with the previous fiscal year)

Net Sales: 2,500 billion yen

(an increase of 251.5 billion yen or 11.2%)

Operating Income: 250.0 billion yen

(an increase of 25.1 billion yen or 11.2%)

Ordinary Income: 250.0 billion yen

(an increase of 10.7 billion yen or 4.5%)

Net Income Attributable to Owners of Parent: 180.0 billion yen

(an increase of 5.6 billion yen or 3.2%)

*Trading rate during the fiscal year: the U.S. dollar at 135 yen, the euro at 145 yen.

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